To repair old plumbing, heating, ventilation, and air conditioning systems; provide academic
academies and magnet schools; upgrade technology; improve access to computers; expand
science labs; renovate and construct classrooms and educational facilities, and make the
District eligible to receive and estimated $47.5 million in State matching grants, shall Pomona
Unified School District issue $235 million of bonds at lowest possible interest rates, with no
money for administrative salaries, and spending annually reviewed by an independent
oversight committee?

Approval of Measure PS would authorize the Pomona Unified School District (“District”) to issue general obligation bonds, in an amount not to exceed $235,000,000.

Funds received from the sale of the bonds shall be used for the specific purposes set forth in this Measure including, repairing plumbing, heating, ventilation, and air conditioning systems; providing academic academies and magnet schools; upgrading technology; expanding science labs; and renovating/constructing classrooms and educational facilities. No funds may be used for teacher and administrator salaries or any other school operating expenses.

Independent performance and financial audits will be performed annually to ensure that funds received from the sale of the bonds are expended as specified by the Measure. All bond expenditures will be monitored by an independent Citizens’ Oversight Committee to ensure that funds are spent as specified.

The best estimate of the tax rate that would be required to fund this bond is $60 per year per $100,000 of taxable property within the District. The bonds shall mature and be paid no later than forty (40) years following their date of issuance. By issuing the bonds the District may be eligible to receive matching funds.